can a buyer withdraw their offer after they signed the contract and submitted their down payment? We, the

Britt
Home Seller
Setauket, NY

seller, wanted to make some changes which were expressed orally to the buyer's attorney, but when they refused these changes, we agreed and signed the contract as is. They said they were withdrawing their offer orally at this point.

Answers (4)
Jane..jaishr...
Agent
11733

Hi Britt,
Once the buyer and seller signed the contract and seller atty had released the contract, it's tricky situation. I will advised you to discuss with your atty for "what is the best thing for you". Good Luck..

Tue Jul 21 2009, 19:37
Barry Fortenber...
Agent
Tucker, GA

A contract ,in Georgia, is not a valid contract until both parties have signed and a copy of the signed contract is delivered to both parties. Proir to that, a buyer may withdraw their offer. Also, most contracts have a due-diligence period, usually 10 days. This period is to give the buyer time to determine if there is a problem with the home or the loan. The buyer can withdraw the offer during this period.

Tue Jul 21 2009, 17:12
Celia M Means
Broker
West Columbia, SC

Britt,
anybody can withdraw an offer at any time but the consequences of doing so depends on the the contract that has been signed, usually the buyer would loose their earnest money but like i said, it depends on the written contract. Now based on the idea that you made changes orally, then i would consult with your lawyer to see what would apply here.
i know it is much help but there is no much information and yes, it does happen

Tue Jul 21 2009, 17:06
Anna Brocco
Broker
Williston Park, NY
FIRST ANSWER

For an accurate answer and not knowing all the fine details, refer your question to your attorney, he will be your best source as he knows all the contract details.

Anna

Tue Jul 21 2009, 16:59

Didn’t find what you were looking for? Ask a question!

Search Advice

Ask a question

Got a real estate question? Get answers from locals, experts and real estate pros.
Ask
Email me when…

Learn more

View all » 1 - 3 of 24
Copyright © 2009 Trulia, Inc. All rights reserved.   |   Fair Housing and Equal Opportunity
Help us improve our service—send us feedback